Keep Us Strong WikiLeaks logo

Currently released so far... 97115 / 251,287

Articles

Browse latest releases

Browse by creation date

Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z

Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ETRD EAGR ETTC EAID ECON EFIN ECIN EINV ELAB EAIR ENRG EPET EWWT ECPS EIND EMIN ELTN EC ETMIN EUC EZ ET ELECTIONS ENVR EU EUN EG EINT ER ECONOMICS ES EMS ENIV EEB EN ECE ECOSOC EK ENVIRONMENT EFIS EI EWT ENGRD ECPSN EXIM EIAD ERIN ECPC EDEV ENGY ECTRD EPA ESTH ECCT EINVECON ENGR ERTD EUR EAP EWWC ELTD EL EXIMOPIC EXTERNAL ETRDEC ESCAP ECO EGAD ELNT ECONOMIC ENV ETRN EIAR EUMEM ENRGPARMOTRASENVKGHGPGOVECONTSPLEAID EREL ECOM ECONETRDEAGRJA ETCC ETRG ECONOMY EMED ETR ENERG EITC EFINOECD EURM EENG ERA EXPORT ENRD ECONEINVETRDEFINELABETRDKTDBPGOVOPIC EGEN EBRD EVIN ETRAD ECOWAS EFTA ECONETRDBESPAR EGOVSY EPIN EID ECONENRG EDRC ESENV ETT EB ENER ELTNSNAR ECHEVARRIA ETRC EPIT EDUC ESA EFI ENRGY ESCI EE EAIDXMXAXBXFFR EETC ECIP EIAID EIVN EBEXP ESTN EING EGOV ETRA EPETEIND ELAN ETRDGK EAIDRW ETRDEINVECINPGOVCS EPEC ENVI ELN EAG EPCS EPRT EPTED ETRB EUM EAIDS EFIC EFINECONEAIDUNGAGM EAIDAR ESF EIDN ELAM EDU EV EAIDAF ECN EDA EXBS EINTECPS ENRGTRGYETRDBEXPBTIOSZ EPREL EAC EINVEFIN ETA EAGER EINDIR ECA ECLAC ELAP EITI EUCOM ECONEFINETRDPGOVEAGRPTERKTFNKCRMEAID EARG ELDIN EINVKSCA ENNP EFINECONCS EFINTS ECCP ETC EAIRASECCASCID EINN ETRP EAIDNI EFQ ECOQKPKO EGPHUM EBUD ECONEINVEFINPGOVIZ ENERGY ELB EINDETRD EMI ECONEFIN EIB EURN ETRDEINVTINTCS EIN EFIM ETIO ELAINE EMN EATO EWTR EIPR EINVETC ETTD ETDR EIQ ECONCS EPPD ENRGIZ EISL ESPINOSA ELEC EAIG ESLCO EUREM ENTG ERD EINVECONSENVCSJA EEPET EUNCH ECINECONCS ETRO ETRDECONWTOCS ECUN EFND EPECO EAIRECONRP ERGR ETRDPGOV ECPN ENRGMO EPWR EET EAIS EAGRE EDUARDO EAGRRP EAIDPHUMPRELUG EICN ECONQH EVN EGHG ELBR EINF EAIDHO EENV ETEX ERNG ED
KMDR KPAO KPKO KJUS KCRM KGHG KFRD KWMN KDEM KTFN KHIV KGIC KIDE KSCA KNNP KHUM KIPR KSUM KISL KIRF KCOR KRCM KPAL KWBG KN KS KOMC KSEP KFLU KPWR KTIA KSEO KMPI KHLS KICC KSTH KMCA KVPR KPRM KE KU KZ KFLO KSAF KTIP KTEX KBCT KOCI KOLY KOR KAWC KACT KUNR KTDB KSTC KLIG KSKN KNN KCFE KCIP KGHA KHDP KPOW KUNC KDRL KV KPREL KCRS KPOL KRVC KRIM KGIT KWIR KT KIRC KOMO KRFD KUWAIT KG KFIN KSCI KTFIN KFTN KGOV KPRV KSAC KGIV KCRIM KPIR KSOC KBIO KW KGLB KMWN KPO KFSC KSEAO KSTCPL KSI KPRP KREC KFPC KUNH KCSA KMRS KNDP KR KICCPUR KPPAO KCSY KTBT KCIS KNEP KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KNNB KGCC KINR KPOP KMFO KENV KNAR KVIR KDRG KDMR KFCE KNAO KDEN KGCN KICA KIMMITT KMCC KLFU KMSG KSEC KUM KCUL KMNP KSMT KCOM KOMCSG KSPR KPMI KRAD KIND KCRP KAUST KWAWC KTER KCHG KRDP KPAS KITA KTSC KPAOPREL KWGB KIRP KJUST KMIG KLAB KTFR KSEI KSTT KAPO KSTS KLSO KWNN KPOA KHSA KNPP KPAONZ KBTS KWWW KY KJRE KPAOKMDRKE KCRCM KSCS KWMNCI KESO KWUN KPLS KIIP KEDEM KPAOY KRIF KGICKS KREF KTRD KFRDSOCIRO KTAO KJU KWMNPHUMPRELKPAOZW KEN KO KNEI KEMR KKIV KEAI KWAC KRCIM KWCI KFIU KWIC KCORR KOMS KNNO KPAI KBWG KTTB KTBD KTIALG KILS KFEM KTDM KESS KNUC KPA KOMCCO KCEM KRCS KWBGSY KNPPIS KNNPMNUC KWN KERG KLTN KALM KCCP KSUMPHUM KREL KGH KLIP KTLA KAWK KWMM KVRP KVRC KAID KSLG KDEMK KX KIF KNPR KCFC KFTFN KTFM KPDD KCERS KMOC KDEMAF KMEPI KEMS KDRM KEPREL KBTR KEDU KNP KIRL KNNR KMPT KISLPINR KTPN KA KJUSTH KPIN KDEV KTDD KAKA KFRP KWNM KTSD KINL KJUSKUNR KWWMN KECF KWBC KPRO KVBL KOM KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KEDM KFLD KLPM KRGY KNNF KICR KIFR KM KWMNCS KAWS KLAP KPAK KDDG KCGC KID KNSD KMPF KPFO KDP KCMR KRMS KNPT KNNNP KTIAPARM KDTB KNUP KPGOV KNAP KNNC KUK KSRE KREISLER KIVP KQ KTIAEUN KPALAOIS KRM KISLAO KWM KFLOA
PHUM PINR PTER PGOV PREL PREF PL PM PHSA PE PARM PINS PK PUNE PO PALESTINIAN PU PBTS PROP PTBS POL POLI PA PGOVZI POLMIL POLITICAL PARTIES POLM PD POLITICS POLICY PAS PMIL PINT PNAT PV PKO PPOL PERSONS PING PBIO PH PETR PARMS PRES PCON PETERS PRELBR PT PLAB PP PAK PDEM PKPA PSOCI PF PLO PTERM PJUS PSOE PELOSI PROPERTY PGOVPREL PARP PRL PNIR PHUMKPAL PG PREZ PGIC PBOV PAO PKK PROV PHSAK PHUMPREL PROTECTION PGOVBL PSI PRELPK PGOVENRG PUM PRELKPKO PATTY PSOC PRIVATIZATION PRELSP PGOVEAIDUKNOSWGMHUCANLLHFRSPITNZ PMIG PREC PAIGH PROG PSHA PARK PETER POG PHUS PPREL PS PTERPREL PRELPGOV POV PKPO PGOVECON POUS PGOVPRELPHUMPREFSMIGELABEAIDKCRMKWMN PWBG PMAR PREM PAR PNR PRELPGOVEAIDECONEINVBEXPSCULOIIPBTIO PARMIR PGOVGM PHUH PARTM PN PRE PTE PY POLUN PPEL PDOV PGOVSOCI PIRF PGOVPM PBST PRELEVU PGOR PBTSRU PRM PRELKPAOIZ PGVO PERL PGOC PAGR PMIN PHUMR PVIP PPD PGV PRAM PINL PKPAL PTERE PGOF PINO PHAS PODC PRHUM PHUMA PREO PPA PEPFAR PGO PRGOV PAC PRESL PORG PKFK PEPR PRELP PREFA PNG PGOVPHUMKPAO PRELECON PINOCHET PFOR PGOVLO PHUMBA PRELC PREK PHUME PHJM POLINT PGOVPZ PGOVKCRM PGOVE PHALANAGE PARTY PECON PEACE PROCESS PLN PRELSW PAHO PEDRO PRELA PASS PPAO PGPV PNUM PCUL PGGV PSA PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PGIV PRFE POGOV PEL PBT PAMQ PINF PSEPC POSTS PHUMPGOV PVOV PHSAPREL PROLIFERATION PENA PRELTBIOBA PIN PRELL PGOVPTER PHAM PHYTRP PTEL PTERPGOV PHARM PROTESTS PRELAF PKBL PRELKPAO PKNP PARMP PHUML PFOV PERM PUOS PRELGOV PHUMPTER PARAGRAPH PERURENA PBTSEWWT PCI PETROL PINSO PINSCE PQL PEREZ PBS

Browse by classification

Community resources

courage is contagious

Viewing cable 09BUENOSAIRES1346, Argentina Economic and Financial Review, December 4-10, 2009

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs

Understanding cables
Every cable message consists of three parts:
  • The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
  • The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
  • The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
To understand the justification used for the classification of each cable, please use this WikiSource article as reference.

Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #09BUENOSAIRES1346.
Reference ID Created Released Classification Origin
09BUENOSAIRES1346 2009-12-10 20:45 2011-08-25 00:00 UNCLASSIFIED//FOR OFFICIAL USE ONLY Embassy Buenos Aires
VZCZCXRO3017
RR RUEHAO RUEHCD RUEHGD RUEHGR RUEHHO RUEHMC RUEHNG RUEHNL RUEHRD
RUEHRG RUEHRS RUEHTM
DE RUEHBU #1346/01 3442046
ZNR UUUUU ZZH
R 102045Z DEC 09
FM AMEMBASSY BUENOS AIRES
TO RUEHC/SECSTATE WASHDC 0183
INFO WESTERN HEMISPHERIC AFFAIRS DIPL POSTS
RHEHAAA/NATIONAL SECURITY COUNCIL WASHINGTON DC
RUCPDOC/DEPT OF COMMERCE WASHINGTON DC
RUEAIIA/CIA WASHINGTON DC
RUEATRS/DEPT OF TREASURY WASHINGTON DC
RUEHSO/AMCONSUL SAO PAULO
UNCLAS SECTION 01 OF 02 BUENOS AIRES 001346 
 
SENSITIVE 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: EFIN ECON EINV ETRD ELAB EAIR AR
SUBJECT: Argentina Economic and Financial Review, December 4-10, 2009 
 
REF: 09 BUENOS AIRES 1175 
 
1. (U)  Provided below is Embassy Buenos Aires' Economic and 
Financial Review covering the period December 4-10, 2009.  The 
unclassified email version of this report includes tables and 
charts tracking Argentine economic developments.  Contact Econ OMS 
Megan Walton at WaltonM@state.gov to be included on the email 
distribution list.  This document is sensitive but unclassified. 
It should not be disseminated outside of USG channels or in any 
public forum without the written concurrence of the originator.  It 
should not be posted on the internet. 
 
 
 
--------------------------------------------- ---------------------- 
-------------------------- 
 
President signs the decree to authorize moving ahead on debt 
restructuring offer 
 
--------------------------------------------- ---------------------- 
-------------------------- 
 
 
 
2. (SBU)  On December 9, President Cristina Fernandez de Kirchner 
signed a decree authorizing the GoA to move ahead in the process of 
preparing an offer to the holdouts from the 2005 debt 
restructuring.  On December 10, the GoA published the decree in the 
Official Gazette (N1953), thereby formally giving the Ministry of 
Economy the authority to issue new bonds to exchange for the 
defaulted bonds that are expected to be surrendered in the upcoming 
offer to those who did not participate in the 2005 debt 
restructuring.  Also, the GoA published on the same date in the 
Official Gazette the Law (N26.547) that suspends the so-called 
"Bolt Law" (Ley Cerrojo), a key legal step in the process leading 
up to the presentation of a formal offer to the holdouts.  This Law 
was approved by Congress on November 18, but becomes effective with 
this publication.  [Background: The Bolt law, originally approved 
in 2005, prevented the GoA from making additional offers to 
holdouts without prior authorization from the Congress.] 
 
 
 
Meanwhile, the GoA is still waiting for regulatory approvals from 
the Security and Exchange Commission (SEC) and a number of other 
international regulatory agencies in order to formally announce an 
offer.  It is unclear whether these approvals will come in time to 
allow the GoA to launch the offer before the end of the year.  Most 
analysts believe that the launch will not be initiated until 
January 2010 at the earliest. 
 
 
 
--------------------------------------------- -- 
 
The GoA to use part of SDRs to pay the GDP warrant 
 
--------------------------------------------- -- 
 
 
 
3. (SBU)  According to the local press, the GoA plans to use part 
of its $2.5 billion IMF Special Drawing Rights (SDR) allocation to 
meet the $1.2 billion payout on GDP warrants due on December 15. 
GDP warrants were attached to all the bonds -- Par, Discount and 
Quasi-Par -- issued in the 2005 GoA debt restructuring, and linked 
to GDP growth.  That is, they pay when Argentina's economic growth 
exceeds a certain level.  Six months after the settlement of the 
debt restructuring -- in November 2005 -- these units started to 
trade separately.  The warrants pay the holders 5% of the value of 
excess GDP growth beyond a predetermined figure based on a 
forecasted trend, which has ranged from about 4.3% in 2005 to 3.2% 
in 2013, after which it stabilizes at 3%.  This year's payment is 
related to 2008 growth, when the economy expanded by 6.8% according 
to INDEC.  Given that the SDRs are not a currency, the only way to 
transform the SDR allocation into usable currency is to sell them 
to another central bank for hard dollars.  On August 28, the IMF 
issued a total of $250 billion in SDRs to member countries in line 
with their shareholder stakes. 
 
BUENOS AIR 00001346  002 OF 002 
 
 
--------------------------------------------- ---------------------- 
----------------------------- 
 
Businessmen moderately optimistic on 2010 economic performance 
 
--------------------------------------------- ---------------------- 
----------------------------- 
 
 
 
4. (SBU)  According to a survey entitled "Leader's Vision" 
published December 9 on El Cronista, businessmen are moderately 
optimistic regarding next year's economic performance.  The main 
results of the survey, which was carried out among 200 businessmen, 
include: 
 
*           About 40% of the businessmen surveyed expect GDP to 
grow 2-3%; in tandem, they expect to increase their sales, both 
domestically and internationally.  However, they acknowledged that 
they would face higher costs and a negative business climate which 
could limit the investment necessary for stronger GDP growth.  A 
third of those surveyed believed that growth would be limited to 
0-2%. 
 
*           72% of those surveyed said that inflation will be 15% 
in 2010.  Only 6% forecast inflation higher than 20%. 
 
*           Inflation and non-adherence to the rule of law are the 
top concerns for businessmen, followed by government interference 
in setting prices and higher costs for their inputs. 
 
*           About 65% do not foresee any changes in company 
payrolls.  18% said they would likely increase their payrolls by 
more than 10%, while 12% indicated they would increase them by less 
than 10%. 
 
*           About 31% of the businessmen said they would invest to 
increase production, another 23% plan to invest to maintain 
production, and 17% will invest to reduce costs.  17% of those 
surveyed plan to invest to increase exports.  Only 1% indicated 
that they had no plans to invest. 
MARTINEZ